The bilateral agreement was signed yesterday, May 10, in Ha Noi by Deputy Minister of Industry and Trade Hoang Quoc Vuong and Ambassador Beatrice Maser Mallor – Head of Economic Cooperation and Development under the Swiss State Secretariat for Economic Affairs (SECO).

At the signing ceremony, the Swiss Ambassador spoke highly of Viet Nam's efforts to develop renewable energy sources and expressed her hope that the aid will push Vietnamese enterprises to take full advantage of investment opportunities in renewable energy sources, such as wind power, solar power and/or biomass.

Deputy Minister Vuong expressed his belief that the project will help the country expand its socio-economic development. REDP, which is funded by the World Bank, will be implemented in three phases, including investing in renewable energy projects, setting up development policy initatives, and developing renewable energy projects for the future.